|Counselor Realty, Inc. Chester Jones Shady grey area business practices. Internet |
|10th of Apr, 2011 by User835083 |
|We attempted to purchase a home from a seller that was using this real estate agency. We made a good offer to the seller late on a Sunday night. The seller was informed and verbally accepted our offer.|
Counselor Realty had a client that was interested in the home, so even though our offer had been accepted they presented their offer the following morning. Keep in mind that the seller and buyer were both going through the same realtor. The two offers were the same and Councelor Realty got the seller to withdraw the offer to us. Understandably, this is no doubt legal, but certainly shady and immoral.
The seller decided to have us both bid our highest and best offers. We decided we liked the home enough to up our offer. Counselor Realty at this point would always know our bid and could advise their client how to bid to beat our price. In the end we lost the home with a reason that "they wanted to keep the sale in house". Of course they did, so they could keep all of the commision.
I feel this company has no moral standards and i question the legality of their actions. I would not use this company if you want to avoid underhanded tactics. How can a company look out for a buyer and sellers best interests at the same time?
|Mr. Bill Sufka: 4/15/11|
I have been made aware of your complaint regarding the recent attempt to purchase a home in St Francis. I understand your frustration and acknowledge that buying a home in today’s market can be a confusing and complex endeavor.
In the event your agent did not provide you with the process, please allow me to explain the fine points of buying. First, in order to have a legally binding agreement, the contractual agreement must be signed by both parties and copies delivered. I’m sorry to report that verbal offers and verbal “acceptances” are not legally enforceable. If in doubt, please consult with your lawyer.
Second, the seller always has the right to choose between two offers. A seller will decide based on the most favorable terms and conditions of the offer (that is, price, close date, contingencies, contributions, etc). As a representative of a seller, an agent must follow their dictates (within the law, of course), such as countering offers. The sellers want the best terms and condition for themselves.
In regards to your offer, the seller instructed the listing agent to ask both selling agents (yours and the other Counselor Realty agent) to ask their respective buyer clients to amend their initial offers to their “highest and best” offers. They would choose the one that met their needs. Unfortunately for you, they accepted the other buyer’s offer, which was, in their minds, “stronger” and more favorable to them. Please understand that both buyers had an equal opportunity to resubmit their offers, each was fully aware that they were competing with someone else, and that the seller made the final decision based on both buyer’s responses and what they wanted from the sale.
Counselor Realty subscribes to and follows the National Association of Realtors’ Code of Ethics and must obey, of course, Minnesota Law.
If you have any additional questions regarding the way you feel you were treated, I suggest you do two things: 1. consult with a competent, experienced residential real estate attorney, and 2. contact me to schedule an appointment to discuss this further. At this time, we respectfully request that you cease these disparaging public comments.
Jim Camarata 4/15/11
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